August preliminary North American Class 8 net orders came in at 19,000 units, down 9% year-over-year but reflecting the best month since February, according to the latest numbers from ACT Research.
“As represented by seasonal factors, the industry remains at that time of the year when expectations for order activity are low, as most of the current year’s orders have been booked and out-year build plans are only starting to open,” shared Kenny Vieth, president and senior analyst at ACT Research. “For Class 8, August is the last month of ‘weak order season,’ the four-month period that begins in May. Adding to downward pressure, the 2023 build plan has been essentially filled since the end of Q1.”
He further explained that after adjusting for seasonal variations, there were 21,500 units of orders, marking a 7.1% month-over-month increase. This, according to Veith, represents the highest monthly performance since February and the third consecutive month with orders exceeding 20,000 units.
